Initial jobless claims fall, but continuing claims rise


It was a good news/bad news week on the employment front. Initial jobless claims fell 38,000 to 555,000, the U.S. Labor Department announced Thursday, however, continuing claims rose slightly to 6.3 million.

Economists surveyed by Bloomberg News had expected jobless claims to fall to 575,000. Meanwhile, the four-week moving average for initial jobless claims decreased 4,750 to 555,250.